UPDATE: Dahlman Rose Upgrades Alamos Gold to Outpeform on Valuation, Cash Flows

Dahlman Rose upgraded Alamos Gold

from Market Perform to Outperform with a $21.00 price target. Dahlman Rose noted, "Adjusted EPS missed expectations slightly due to higher-than-expected G&A and depreciation. However, operating metrics were pre-released and no changes have been made to the company's 2013 guidance. With forward operating expectations remaining intact, BMO Research views the slight earnings miss as neutral to the stock. … At current levels, Alamos is trading at a discount to its peers and has a return to target of 53%. Given Alamos' low cash cost profile and free cash flow generating ability, BMO Research expects the stock to trade at a premium to its peer group." Alamos Gold closed at $13.40 on Thursday.